Torq Resources Secures Regulatory Approval to Extend C$2.8 Million Loan to March 2027

Torq Resources Inc. received regulatory approval to extend its C$2.8 million loan owed to 191010 Investments Limited from July 11, 2026, to March 16, 2027, according to Stock Titan. The Vancouver-based copper and gold exploration company said the six-month extension aligns with the closing of its recent private placement financing.

Torq Resources' Loan Extension Terms

In consideration for the extension, the lender will receive 56 million share purchase warrants, with each warrant exercisable for one common share at $0.05 per common share until September 16, 2027. The company said the warrants are subject to a contractual blocker term that prohibits exercise if the number of shares resulting from exercise combined with the lender's other Torq shares would exceed 9.99% of issued Torq shares without company approval. That threshold percentage, if waived by the company, would require TSXV and shareholder approval to exceed 19.99%. In accordance with TSXV policy, the lender's warrants are also subject to reduction on 10 days' notice if the loan is prepaid before March 16, 2027. Torq Resources is a pre-revenue junior copper-gold exploration company focused on the Santa Cecilia and Margarita projects in Chile's Maricunga and Coastal Cordillera belts, funded primarily by equity placements and a US$48 million earn-in agreement with strategic shareholder Gold Fields, according to akta.pro company records.

Torq Resources' Funding and Project History

Torq Resources completed a January 2024 concurrent public and private offering of C$5.3 million that included a private placement to Gold Fields, according to the same records. The company announced a proposed US$48 million earn-in option and joint venture agreement with Gold Fields on the Santa Cecilia project in August 2024. In April 2024, Torq made the Pircas Norte discovery at Santa Cecilia, intersecting 502 metres of 0.36 g/t gold and 0.078% copper, including 120 metres of 1.33 g/t gold.

Earlier Financing and Loan Steps

On August 20, 2026, Torq Resources arranged lead investors for a proposed C$1.25 million non-brokered private placement financing to raise capital for general working capital, Stock Titan reported. On September 15, 2026, the company increased its private placement financing from C$1.5 million to C$1.7 million, issuing 34,003,824 units at C$0.05 each, and extended a C$2.8 million loan by six months, issuing 56 million warrants, while adjusting earn-in terms with Gold Fields.

Torq Resources' Next Steps

The loan extension runs to March 16, 2027, and the lender's warrants are exercisable until September 16, 2027. Torq Resources' 2026 drilling program at the Santa Cecilia project, fully funded by Gold Fields, targets Pircas Norte and Gemelos Norte.